FUN Technologies Optimistic For Skill Games
Published: Saturday, October 07, 2006 Online-Casinos.com
FUN TECHNOLOGIES OPTIMISTIC FOR SKILL GAMES
No changes planned regarding US market
The giant Canadian skill games provider FunTech, which is part of the Liberty Media group said this week that it would continue to operate business as usual in its FUN Games and FUN Sports divisions following the US legislative moves to cut off American financial flows to online gambling companies.
Company spokesmen pointed out that the US legislation includes a specific allowance for fantasy sports contests, such as those offered by FUN Sports, and permits online competitions in games of skill, such as those offered by FUN Games, to continue in the U.S. states in which they have always been legal. Skill games have always been legal in the states in which FUN Games operates.
Analyst David Shore of Desjardins Securities, stated, "We believe the passage of this bill will actually benefit FUN Technologies, not only because it plays in the areas not covered by the bill, but also because other large Internet gambling companies that just lost a big chunk of their market will be looking to fill the void with legal activities, the kind FUN Technologies owns."
"If skill games are not unlawful under applicable state or Federal law, then they are not unlawful under this Act," explained Anthony Cabot, an attorney with the Las Vegas law firm of Lewis and Roca. "The sponsors of this legislation repeatedly asserted that nothing in this Act converts currently legal activities to unlawful activities."
"The Internet Gambling bill is a neutral or positive development for FUN Technologies," said Lorne Abony, CEO, FUN Technologies. "The reality is that skill gaming is in the same position it was in before the bill: it is legal in the majority of U.S. states. The bill does not change the definition of gambling or the legality of skill games and fantasy contests. FUN has been committed from its inception to operate its business in complete compliance with U.S. regulations and will continue to do so."
